1,271 Shares in Principal Financial Group, Inc. (NYSE:PFG) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,271 shares of the company’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group during the third quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC boosted its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the third quarter worth $45,000. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.54.

Principal Financial Group Price Performance

Shares of PFG opened at $84.94 on Thursday. The business’s 50-day moving average is $80.03 and its two-hundred day moving average is $82.07. The company has a market capitalization of $19.43 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.22. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.53%. Principal Financial Group’s payout ratio is presently 43.71%.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.